iDiscovery Solutions and CyberRx
What is CyberRx?
CyberRx combines best practices in the NIST Cybersecurity Framework, data and expertise to enable institutions to manage and reduce their cybersecurity risk exposure and achieve readiness goals.
What does CyberRx Do?
·Measures an institution’s overall cybersecurity risk posture
·Assesses an institution’s cybersecurity readiness in identifying, protecting, detecting, responding and recovering from cybersecurity events
·Products quantifiable estimates of the level of exposure of an institution has to a successful cyber breach
·Quantifies an institution’s financial exposure
·Generates a risk register that facilitates continuous management and mitigation of cybersecurity risk
·Informs decision-making for CEO’s and Boards based on stated or approved risk appetite
·Reduces legal risk with evidence of institutions’ good faith efforts to manage cybersecurity risks
·Enables quick response to audits, compliance reviews and other cybersecurity assessments
·Fully maps to manual Federal Financial Institutions Examinations Council (FFIEC) Assessment Tool, HIPAA security requirements, NIST 800-53 Rev4, NIST 800-30 and other industry standards
·Provides a repeatable and continuous process for institutions to manage their cybersecurity risks and improve their overall cybersecurity health
Costs of data security breaches can be significant. According to IBM & the Ponemon Institute*:
·The average cost of a data breach in the U.S. in 2015 was $6.5 million
·The average cost per compromised record in the U.S. in 2015 was $217
·The average total cost of a data breach in the U.S. increased by 11% vs. 2014
When you stack up the potential costs brought on by a data security breach, risk mitigation is more than a smart investment it’s business critical.
*2015 cost of Data Breach Study: United States, IBM & Ponemon Institute